See the best GBP > AUD exchange rates Feb 21, 2018 | finder.com
Best GBP > AUD exchange rates

Best GBP > AUD exchange rates as of Feb 21, 2018

Get the best exchange rate when transferring your British pounds for Australian dollars.

When sending money to Australia — whether to a loved one or for business — make your pounds go further when with a strong exchange rate.

Today’s mid-market rate

The mid-market British pound–to–Australian dollar exchange rate is 1 GBP = 1,62 AUD. (Rate accurate as of February 17, 2017.)

Get the best rate for your GBP > AUD exchange

We’ve gathered today’s best rates to inform your foreign exchange decisions when transferring money from the UK to Australia.

Refreshing in: 60s | Thu, 22 Feb 04:34am GMT
USD AUD CAD EUR CNY GBP INR MXN PHP
1 USD = 1.0000 1.2817 Inverse: 0.7802 1.2693 Inverse: 0.7878 0.814564 Inverse: 1.2277 6.3488 Inverse: 0.1575 0.718831 Inverse: 1.3911 65.07 Inverse: 0.0154 18.8321 Inverse: 0.0531 52.1805 Inverse: 0.0192
1 AUD = 0.7802 Inverse: 1.2817 1.0000 0.9903 Inverse: 1.0098 0.6355 Inverse: 1.5735 4.9534 Inverse: 0.2019 0.5608 Inverse: 1.7830 50.7691 Inverse: 0.0197 14.6933 Inverse: 0.0681 40.7124 Inverse: 0.0246
1 EUR = 1.2277 Inverse: 0.8146 1.5735 Inverse: 0.6355 1.5582 Inverse: 0.6418 1.0000 7.7940 Inverse: 0.1283 0.882472 Inverse: 1.1332 79.883184 Inverse: 0.0125 23.1193 Inverse: 0.0433 64.0594 Inverse: 0.0156
1 GBP = 1.3911 Inverse: 0.7188 1.7830 Inverse: 0.5608 1.7658 Inverse: 0.5663 1.1332 Inverse: 0.8825 8.8321 Inverse: 0.1132 1.0000 90.52203 Inverse: 0.0110 26.1983 Inverse: 0.0382 72.5908 Inverse: 0.0138

How does the British pound trade against the Australian dollar historically?

With strong historical ties between the UK and Australia, the pound and the Aussie dollar has enjoyed a fairly even playing field.

On February 14, 1966, Australia introduced the Australian dollar to replace the Australian pound. The strength of the Aussie dollar became apparent when the British pound was devalued against the US dollar in 1967. The Australian dollar has better resisted global changes ever since.

More recently, the global financial crisis in 2008 affected both the British pound and Australian dollar. The Australian dollar reached highs of 2.474488 per pound in October 2008, from 2.065693 in July of 2008. It gradually strengthened and by August 2009 had dropped to under two dollars per pound.

The effects of “Brexit” on currency exchange

Since Brexit — or Britain’s proposed exit from the European Union — in June 2016, the British pound has declined against several currencies, including the Australian dollar. From June 2016 to July 2016, the GBP to AUD exchange rate went from 1.9675 to 1.7520. It has remained between 1.6 and 1.7 pounds to the Aussie dollar since the Brexit vote.

Though the British pound is historically stronger than the Australian dollar, Brexit could lead to a weaker pound as the British economy remains volatile.

GBP > AUD exchange rate history

We’ve put together the annual average exchange rate for the British pound against the Australian dollar from 2007 to 2016.

2016201520142013201220112010200920082007
GBP = AUD1.8258062.0361941.8262781.6230181.5303401.5533891.6836971.9917842.1873082.390299

Here’s the monthly average exchange rate for the British pound over the past 12 months.

MonthGBP = AUD
Jan. 20171.656809
Dec. 20161.701185
Nov. 20161.656284
Oct. 20161.622004
Sept. 20161.733502
Aug. 20161.716483
July 20161.745075
June 20161.916495
May 20161.987331
April 20161.867060
March 20161.899159
Feb. 20162.006041

What affects GBP > AUD exchange rates?

Five main factors affect the British pound and Australian dollar, including monetary policy, price inflation, confidence and sentiment, economic growth using the gross domestic product (GDP) and the balance of payments. These factors can offer a comprehensive view of the direction a currency is going.

A clear example of how this works happened in 2015. Heavy flooding in Australia’s eastern states — particularly in Queensland — affected Australia’s GDP and inflation. A primary factor used to gauge the health of a country’s economy, the GDP went on to affect how the Australian dollar traded in global markets. From June 2015 to February 2016, the Australian dollar remained above 2.0 to the pound.

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Bottom line

By doing your research to find the best exchange rate when transferring money from the UK to Australia, you can make your money go further. With Brexit leaving the British economy on unstable ground, keep an eye on the market before exchanging your pounds to the Aussie collar.

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